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The European Central Bank (ECB)  Governing Council member and Bank of France Head Francois Villeroy de Galhau  expresses his take on the recent inflation concerns while maintaining a dovish stance on the monetary policy on Tuesday.

Key quotes

“There is no risk of lasting inflation return in the euro area.”

“Monetary policy should remain accommodative.”

“French economy to grow at least 5.5% this year.”

Market reaction

With the ECB policymaker downplaying inflation concerns and the US dollar index at three-month lows, EUR/USD has recaptured the 1.2200 barrier.

The spot was last seen trading at 1.2216, up 0.54% on the day, awaiting key Eurozone GDP data.

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